olivLaw · European equity research
Ferrari Group PLC FERGR.AS
Netherlands · Euronext Amsterdam · Vertical: Listed companies from Netherlands
Ferrari Group PLC is a logistics provider for the luxury industry, transporting, storing and delivering high-value goods for international brands. In fiscal 2025 the company reported revenues of 359.4 million euros, and the group listed publicly in February 2025, which raises its visibility for investors.
At the close of 05 Nov 2026, Ferrari Group PLC (FERGR.AS) stock was 7.73 EUR (−0.51% on the day), with beta 0.96, 52-week range 7.15–11.16 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 54.7
- neutral
- Bollinger (20, 2)
- 7.39 – 7.77
- in the upper half of the band · %B 0.89 · band width 5.1%
- SMA 50 / 200
- 7.72 / 8.26
- mixed trend
- MACD (12, 26, 9)
- -0.01 / -0.04
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.3% | −0.6% | +5.0 pp | — |
| 3 months | −3.0% | −4.2% | +1.2 pp | — |
| 6 months | −5.7% | +4.3% | −10.1 pp | — |
| Year to date | −15.4% | +7.5% | −22.9 pp | — |
| 1 year | −3.7% | +9.9% | −13.7 pp | +0.3% |
| 3 years | unavailable | +49.8% | unavailable | +2.2% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 |
|---|---|---|
| Revenue | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable |
| Net income | 52.9 m | 55.5 m |
| Net income YoY | unavailable | +4.9% |
| Diluted EPS | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable |
| net % | unavailable | unavailable |
| Free cash flow | 57.9 m | 54.1 m |
Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 115.8 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 211.4 m EUR
- Total assets
- 312.9 m EUR
- Debt / equity
- unavailable
- Current ratio
- 3.14x
- ROE
- 28.7%
- ROA
- 18.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Income statement · EUR
| Line | 2023 | 2024 | Source (latest year) |
|---|---|---|---|
| Operating income | 73.0 m | 73.2 m | esef· 20 May 2025verified |
| Depreciation & amortisation | 13.6 m | 17.4 m | esef· 20 May 2025verified |
| EBITDA | 86.6 m ≈ | 90.5 m ≈ | esef· 20 May 2025derived |
| Interest expense | 2.3 m | 1.7 m | esef· 20 May 2025verified |
| Pre-tax income | 72.1 m | 72.8 m | esef· 20 May 2025verified |
| Income tax | 15.2 m | 15.5 m | esef· 20 May 2025verified |
| Net income | 52.9 m | 55.5 m | esef· 20 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | Source (latest year) |
|---|---|---|---|
| Cash | 98.8 m | 115.8 m | esef· 20 May 2025verified |
| Inventories | 211.0 k | 65.0 k | esef· 20 May 2025verified |
| Current assets | 208.1 m | 216.2 m | esef· 20 May 2025verified |
| Property, plant & equipment, net | 20.6 m | 24.6 m | esef· 20 May 2025verified |
| Goodwill | 2.4 m | 2.4 m | esef· 20 May 2025verified |
| Intangibles (excl. goodwill) | 3.5 m | 7.6 m | esef· 20 May 2025verified |
| Total assets | 279.6 m | 312.9 m | esef· 20 May 2025verified |
| Current liabilities | 77.1 m | 68.9 m | esef· 20 May 2025verified |
| Equity | 175.1 m | 211.4 m | esef· 20 May 2025verified |
Cash flow · EUR
| Line | 2023 | 2024 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 67.4 m | 62.6 m | esef· 20 May 2025verified |
| Capex | 9.5 m | 8.6 m | esef· 20 May 2025verified |
| Free cash flow | 57.9 m ≈ | 54.1 m ≈ | esef· 20 May 2025derived |
| Investing cash flow | -12.9 m | -13.0 m | esef· 20 May 2025verified |
| Financing cash flow | -44.1 m | -34.4 m | esef· 20 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 16.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
17% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · input data missing
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | 97.5% | 96 (on a fixed band) | 38% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 44.2x | 100 (on a fixed band) | 38% |
| Current ratio · Balance sheet | 3.1x | 100 (on a fixed band) | 25% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial96/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
FERRARI GROUP PLC (FERGR.AS). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: ROE 30.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 97.5%
- Interest coverage: 44.2x
- Current ratio: 3.1x
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Netherlands · same country · compared with 40 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ASML.ASASML Holding N.V. | 485.6 bn | 47.6 | 44.2% | 31.3% | +15.6% | +38% / +101% |
| DSFIR.ASDSM-Firmenich AG | 33.7 bn | 120.5 | 1.2% | 2.2% | +20.4% | +60% / +30% |
| AD.ASKoninklijke Ahold Delhaize N.V. | 31.2 bn | 13.9 | 15.3% | 2.5% | +3.4% | −3% / +30% |
| ASM.ASASM International N.V. | 31.2 bn | 43.3 | 18.7% | 22.8% | +8.2% | +34% / +35% |
| ADYEN.ASAdyen N.V. | 28.1 bn | 26.6 | 22.3% | 40.1% | +18.9% | −33% / −17% |
| HAL.ASHAL Trust | 15.5 bn | 9.7 | 10.5% | 12.8% | +1.2% | +22% / +47% |
| EXO.ASExor N.V. | 15.0 bn | — | -10.6% | — | −100.0% | +1% / −18% |
| BESI.ASBE Semiconductor Industries N.V. | 11.2 bn | 84.9 | 28.7% | 22.3% | −2.7% | +8% / +10% |
| AKZA.ASAkzo Nobel N.V. | 10.7 bn | 17.0 | 13.8% | 6.3% | −5.2% | +12% / −11% |
| AALB.ASAalberts N.V. | 4.5 bn | 25.4 | 7.2% | 5.7% | −5.3% | +48% / +13% |
| ARCAD.ASArcadis N.V. | 4.2 bn | 20.2 | 18.3% | 4.3% | −2.4% | +24% / +2% |
| BNJ.ASBanijay Group N.V. | 3.4 bn | 13.8 | 343.8% | 5.1% | +1.6% | −11% / −8% |
| BAMNB.ASKoninklijke BAM Groep N.V. | 3.3 bn | 41.8 | 9.1% | 1.3% | +2.9% | +47% / +400% |
| BFIT.ASBasic-Fit N.V. | 2.0 bn | 138.2 | 3.6% | 1.0% | +16.9% | +7% / +16% |
| HAVAS.ASHavas N.V. | 1.8 bn | 9.6 | 10.2% | 6.5% | +1.7% | +26% / unavailable |
| CRBN.ASCorbion N.V. | 1.6 bn | 8.3 | 27.3% | 14.9% | +1.9% | +40% / +55% |
| ECMPA.ASEurocommercial Properties N.V. | 1.4 bn | 11.2 | 5.9% | 45.4% | +4.2% | −4% / +19% |
| FUR.ASFugro N.V. | 985.3 m | — | -1.5% | -1.1% | −18.8% | −0% / −49% |
| ACOMO.ASAcomo N.V. | 685.9 m | 15.2 | 10.7% | 3.3% | +7.6% | −3% / +37% |
| FAST.ASFastned B.V. | 663.0 m | — | -28.2% | -21.7% | +66.1% | +60% / +25% |
| FFARM.ASForFarmers N.V. | 479.4 m | 9.6 | 14.5% | 1.6% | +14.8% | +22% / +123% |
| BRNL.ASBrunel International N.V. | 383.2 m | 125.5 | 1.0% | 0.3% | −10.8% | −6% / −29% |
| ENVI.ASEnvipco Holding N.V. | 224.1 m | — | -12.7% | -11.9% | −20.8% | −25% / +47% |
| ALFEN.ASAlfen N.V. | 219.8 m | — | -0.1% | -0.0% | −10.7% | −4% / −78% |
| CMCOM.ASCM.com N.V. | 192.5 m | — | -22.2% | -1.5% | −5.4% | +23% / −30% |
1- and 3-year price returns: for FERGR.AS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Ferrari Group PLC is a logistics provider for the luxury industry, transporting, storing and delivering high-value goods for international brands. In fiscal 2025 the company reported revenues of 359.4 million euros 1, and the group listed publicly in February 2025, which raises its visibility for investors.
SWOT
Strengths
- The company is a trusted long-term partner to leading luxury brands, supported by sector expertise and high service standards 1.
- A scalable business model and a flexible cost base allow expansion without large capital investment 1.
- A cash position and financing without restrictive covenants give financial flexibility 1.
Weaknesses
Opportunities
Risks
- Litigation and legal riskmedium
The company may be involved in disputes with customers, employees or authorities, and outcomes can include significant costs and damages 1.
- Sanctions and AML compliancemedium
Operations across several jurisdictions could lead to penalties if compliance rules are not met 1.
- Competitive pressuremedium
The entry of aggressive competitors could reduce market share and press margins 1.
- Geopolitical and trade riskhigh
Geopolitical tensions and changes in trade policy could disrupt routes and demand 1.
- IT security and cyber riskmedium
System disruptions or cyberattacks could lead to service losses and to the loss of customers 1.
Investment thesis
What would need to be true (bull case)
- If route expansion and growth in luxury goods volumes continue, revenues could keep rising, supported by the scalable model 1.
- Demand for tailored services and secured storage could lift revenues from the special services segment 1.
- A solid financial position without restrictive loan covenants could support investment in expansion and digitalisation 1.
What would break the thesis
What to watch
- Trend in adjusted EBITDA margin and personnel costs2026
- Revenue trend in Asia, especially China2026
- Outcome of litigation and of the Italian customs settlement costsnext 10-K
- Progress of digital transformation investments and IT efficiency2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group's business model connects leading luxury brands with their customers through tailored, high-quality transport and logistics services 1. The company presents itself as a one-stop shop for luxury logistics worldwide, covering transport, storage and special services 1. Revenues are linked to shipment volume, weight and value, with pricing tied to the value of the goods to protect margins 1.
The cost base is centred on transportation, packaging and personnel, which supports rapid expansion with limited capital investment 1. A global network of subsidiaries and strategic partners provides operational flexibility 1. As route development and volumes grew, the company also expanded offices and warehouses, particularly in Spain, France, Thailand and Italy 1.
Segments
Domestic Services
Domestic Services generated 59.8 million euros in fiscal 2025, up from the prior year, and benefited from higher international volumes, particularly in France, Germany, Italy, the United States and Dubai 1.
Market context
The group operates in luxury logistics, a specialised segment with a limited number of operators and high service expectations from customers 1. Europe accounted for 59.1% of revenues 1, while Asia fell to 15.1% of revenues because of the contraction of the Chinese market 1.
The group's activity depends on the flow of luxury goods between countries, on trade and customs rules, and on geopolitical conditions. If these flows contract, demand for the company's services could decline 1.
Trends
- Route and volume expansiontailwind
Growth in the volume of goods transported and in the number of shipments, together with route network optimisation, supported revenues in fiscal 2025 1.
- Demand for tailored servicestailwind
Customers increasingly ask for special services such as hand-carry and white glove, and private events and fairs have grown 1.
- Contraction of the Chinese marketheadwind
Lower volumes in China reduced Asian revenues, which the company linked to a general contraction of the Chinese market 1.
- Rising personnel costsmixed
Personnel costs grew faster than revenues, which pressured the adjusted EBITDA margin as hiring and geographic expansion continued 1.
Competitive position
The competitive risks described by the company include the entry of aggressive pricing competitors and pressure on margins if prices must be adjusted 1. The company responds with its pricing strategy, a premium positioning and operational innovation 1.
Competitors include specialised luxury logistics operators and international transport providers, and the company notes that an integrated service model can help it grow its share of wallet with existing clients 1.
- Specialised luxury logistics operators
Companies in this segment, cited in the report as a source of competitive pressure, are not named in the source.
- Global logistics and transport providers
Firms competing through international services and technology, referred to generically in the risk discussion of the report.
- New entrants with digital solutions
Digital platforms or advanced logistics providers that could change sector dynamics, according to the source.
- Regional warehousing operators
Local providers that could compete in warehousing and secured storage in Europe and Asia.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202420 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Ferrari Group PLC · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.